The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-22
THE ARREST OF G. G. TRANCKLYN.
Sir Bache Cunard Claims that He Is Indebted
TO Him in the Sum of $3, 100000

who was locked up late last night in Ludlow
street jail, is still in custody having been unable
to procure the bail of $500, 600 required The
suit in which his is arrested was brought by Sir
Bache Cunard. The complaint alleges that on
Sept. "a, 1872 he engaged Francklyn as his
agent, and intrusted to him the management of
estate consisting of about 81 ,000. 900 worth of
bonds and other securities. Oct. g. 1883 he gave
him 800, 900 more In July, 1885, Sir Bache
demanded the return of his property and on
Sept. 25. Francklyn gave him 1923 ESQ. Sir
Bache claims that Frauckvn is still indebted to
him to the amount of $3 900, ,oO0 the balance and
accumulatons of interest Mr.. Whiteiock, attor-
ney for the plaintiff, swears that on Oct 6. 1888,
he gave the defendant, as the business agent os
the plaintiff, 100000 IN cash. the plaintiffs por-
ton of the personal estate OF his brother, Ed
ward Cunard The plaintiff having need of
large sum of money, caoled the defendant early in
1855. to sell securities and transmit the money.
Defendant failed to comply with this request.
and Sir Bache Cuuard came to this country in
June and made demand in person for the re-
turn OF his property. At that time the defend
ant admitted that he had converted to his own
use securities to the amount of $500, 600. and
unable 10 deliver them to plaintiff Defendant
requested plaintiff not to proceed against him.
saying tf at he would be able. in time. repay
the full amount. Relying upon this. and not
wishing to disgrace Francklyn, who his
cousin, Sir Bache trusted him further. The
matter had been allowed to run along until now
it is claimed Franckyn is in to the
amount of So 000 000 Mr.. Stillman, of Mr.
Frsucklyns counsel, said the defense claimed
that Sir Bachs Cunard and Mr.. Francklyn
jointly interested in business enterprises in this
country; that the latter had full authority from
the former for all his acts that are now com
planned Of and that Sir Bache was now trying
TO make good his share of losses incurred by de-
manding that Mr.. Frapckiyn should pay them.
Mr. Francklyn positively refuses to any
out his counsel The affidavit upon which the
arrest was made says that. according to the ex
perts examination Of the books of Franckiyn,
there is found to be due Sir Bache ST.. 939 APO,
exclusive of interest, which the defendant has
retained and converted to his own
The affidavit of Bsnj L. Hannah, an account
ant employed by Whitelock g. Simonds, at
torneys for Sir Bache, shows that he made
examination of the accounts in the estate He
says that there are vet unaccounted for securi
exclusive of interest. The journal account of
Francklyn with the estate shows that between
Jan. 1. 1876 and March 20. 1877. the defendant
subscribed for 3,467 shares of capital
pany, for the plaintiffs account. and
subsequently paid the company cash for that
purchase and for 293 additional shares. l. ap-
pears that the account WAS balanced in May,
1878, by leaving therein to he accounted for
LOCO shares of the said stock of the par value of
800 900. and by transferring the balance of the
said account $2I6. 034. to another ledger account
entitled Loan municipal gas account, G. q. F.,
at the same time making the following explain
atory entry in said journal: ''This sum
used during construction OF works" 1t
appears that this last account
closed in August, 1880, by transferring this
amount to the debit of account entitled &C.
g. Fraucklyn, loan account" The examination
further reveals that these thousand shares
were subsequently, exchanged for 9. 200 shares of
the capital stock of the Consolidated Gas-light
Company. but that prior to such exchange, be-
tween June l, 1878. and June 80, 1885, there
were credited to INCOME account dividends ag-
gregating 1927. 800 on these one thousand shares
The opinion of the accoun tant is that, ''by the
entries in the said books pertaining to the
ledger accounts above named, tho plaintiff has
been deprived of the ownership of at least
2, 467 shares of the capital stock of the NUM-
cipal Gas-lght Company; that he has also
been deprived of all the dividends which have
been paid on said stock and of the shares of the
Consolidated Gas Company, which were subse-
Quently issued IN exchange" The accountant
concludes that 1.-The said entry whereby sub
scription to said stock was made to appear a
loan is. on the face of the books and in the
absence of proper explanation by the said de-
fendant. fraudulent. and made with the intent
to deprive the said plaintiff of said stock and
dividends. and that the said entry is capable of
other construction"
The arrest of Mr.. Francklyn, IL is believed,
will make a stir in the Horn Silver Mining Com
panys affairs, the 5000, 900 unaccounted for.
and which, it has been reported, was loaned to
Mr.. Francklyn General Hubbard, Of Franck-
lyn's counsel, said that the money represented
purchases of other mining property and not
deficiency, and was simply question to the
jurisdiction and discretion of President Franck-
lyn in the matter.